Origis Energy, a US-based renewable energy platform, has announced the close of a US$375 million credit facility for its solar and energy storage development project pipeline.

This innovative facility for the renewable energy industry bundles letter of credit (L/C) and equipment financing.

Oversubscribed

Headquartered in Miami, Origis provides solar and energy storage development, financing, engineering, procurement and construction (EPC) and operations, maintenance and asset management for investors and US-based clean energy consumers.

The oversubscribed L/C and equipment financing facility suggests confidence amongst financial backers in the developer and has been secured to fund Origis' growing, nationwide presence of clean energy assets.

Financial backing

Coordinating lead arrangers of the bundled facility were CIT, a division of First Citizens Bank, along with Deutsche Bank, HSBC, Nomura, Rabobank, and Santander.

First Citizens Bank is the largest family-controlled bank in the US and a top 20 US financial institution with more than US$100 billion in assets.

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